It is important to look at results at QoQ angle rather than YoY angle. This is because Kemang is bought in Q4 2014.

Operating numbers wise, it is a job well done. The good numbers is somewhat offset by the weakening IDR

It’s have a been 3 quarters since Kemang. It has proven to be a good buy, but since Alvin took over there is no more break down of occupancy by malls. So when overall occupancy falls from 2Q, it is hard to pinpoint is it due to the wretched Pulit Village and if Kemang occupancy is further improving.

But I expect interest cost to stay status quo or go down given Lippo is now rated, and the last loan was of the lowest interest rate.

So, LMIR should actually command better valuation, beside the stink reputation of doing a right when price start to recover.

So, am I …